Friday, October 31, 2014
The deceptive "B" wave transforms into a "v"th wave with sub-dividing waves...
FII's started buying in this month from 20th, kept it deceptively low for 4 days and resumed buying big again.
Prices moved past decisively above 8105-8120 and never returned.
Presently, all t/f technicals are in uptrend. Sustaining above 8140, the impulsive uptrend continues.
Prices making newer highs while Day in OB zone reveals the underlying bullishness; only EOD would confirm a reversal with a minimum close below DHEma.
Hour -ve divergences got negated while the prices held the lows....
Sustaining 8080 at open, channel support/ Day pivot, strength continued for a 100 point rally.
Below is the monthly chart wherein the clarity is more compared to the choppy(noisy) short term T/f charts. Whenever doubt arises, revisit the higher t/f charts & 9-Day Rsi chart(for ST).
Prices moved past decisively above 8105-8120 and never returned.
Presently, all t/f technicals are in uptrend. Sustaining above 8140, the impulsive uptrend continues.
Prices making newer highs while Day in OB zone reveals the underlying bullishness; only EOD would confirm a reversal with a minimum close below DHEma.
Hour -ve divergences got negated while the prices held the lows....
Sustaining 8080 at open, channel support/ Day pivot, strength continued for a 100 point rally.
Below is the monthly chart wherein the clarity is more compared to the choppy(noisy) short term T/f charts. Whenever doubt arises, revisit the higher t/f charts & 9-Day Rsi chart(for ST).
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Elliot's Impulse waves.(Part-5)
IMPULSE WAVES :- The Basics Waves that move the market in the direction of its main trend either up or down are called Impulse waves. 1....
